Tilray (NASDAQ:TLRY) Trading Down 2.2% – Here’s What Happened

Shares of Tilray Inc (NASDAQ:TLRY) fell 2.2% on Tuesday . The company traded as low as $0.91 and last traded at $0.91. 16,618,676 shares were traded during trading, a decline of 64% from the average session volume of 46,338,965 shares. The stock had previously closed at $0.93.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group boosted their price target on Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $2.70.

Tilray Price Performance

The company has a market capitalization of $838.83 million, a price-to-earnings ratio of -2.98 and a beta of 2.07. The stock has a fifty day simple moving average of $1.20 and a 200-day simple moving average of $1.48. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.58.

Tilray (NASDAQ:TLRY) last announced its earnings results on Friday, January 10th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.07). The business had revenue of $210.90 million for the quarter, compared to analyst estimates of $216.34 million. Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities research analysts anticipate that Tilray Inc will post -0.2 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. BNP Paribas Financial Markets increased its position in shares of Tilray by 1,314.1% during the third quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock worth $3,202,000 after purchasing an additional 1,690,827 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Tilray during the third quarter worth approximately $1,348,000. Creative Planning increased its position in shares of Tilray by 36.6% during the third quarter. Creative Planning now owns 141,921 shares of the company’s stock worth $250,000 after purchasing an additional 38,054 shares in the last quarter. Barclays PLC increased its position in shares of Tilray by 600.4% during the third quarter. Barclays PLC now owns 204,144 shares of the company’s stock worth $359,000 after purchasing an additional 174,997 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of Tilray by 335.3% during the third quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock worth $42,000 after purchasing an additional 18,208 shares in the last quarter. 9.35% of the stock is owned by institutional investors and hedge funds.

Tilray Company Profile

Tilray, Inc engages in the research, cultivation, processing, and distribution of medical cannabis. The company offers its products in Argentina, Australia, Canada, Chile, Croatia, Cyprus, the Czech Republic, Germany, New Zealand, and South Africa. Tilray, Inc is headquartered in Canada.